FSL chemical tanker sale falls through

Singapore’s FSL Trust Management said on Friday that the arrangement to sell the 15-year-old chemical tanker FSL London had been mutually canceled.

The 19,966 dwt Japanese-built vessel was sold in September for $10.2m to Singapore-listed Indonesian owner Samudera Shipping. The deal included a time charter with Golden Stena Baycrest Tankers, paying a reported $12,000 per day.

According to FSL, the sale fell through due to delivery schedule delays caused by a customs probe into cargo specifications.

As part of the initial deal, FSL received a 10% deposit in escrow, which has now been returned to Samudera. The FSL London was purchased for $45m in 2006.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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